Time Warner net income rises 51 percent

Time Warner Inc. said Wednesday that net income grew 51 percent in the last three months of 2012, while revenue was largely unchanged.

Rising fees from cable and satellite companies and higher ad revenue at the TV networks offset revenue declines at the movie studio and magazine businesses.

The company also announced a dividend increase and a new plan to buy back shares.

The television networks business drove the quarter’s performance as revenue there grew 5 percent, offsetting declines elsewhere.

The Warner Bros. studio business had a weaker release lineup in the most recent quarter, though it managed to report an operating profit with an emphasis on higher-profit TV production.